Assembly Bill A7195

2011-2012 Legislative Session

Prohibits municipalities from depositing public money in financial institutions that do not pay New York state taxes

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A7195 (ACTIVE) - Details

Current Committee:
Assembly Local Governments
Law Section:
General Municipal Law
Laws Affected:
Amd §10, Gen Muni L
Versions Introduced in 2013-2014 Legislative Session:
A4427

2011-A7195 (ACTIVE) - Summary

Prohibits municipalities from depositing public money in financial institutions that are not subject to taxation under article 32 of the tax law.

2011-A7195 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7195

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                             April 15, 2011
                               ___________

Introduced  by  M.  of  A. FINCH, BURLING, MONTESANO, CERETTO, SALADINO,
  MURRAY -- Multi-Sponsored by -- M. of A. GOODELL, KATZ  --  read  once
  and referred to the Committee on Local Governments

AN  ACT  to  amend the general municipal law, in relation to prohibiting
  local governments from depositing public  money  in  financial  insti-
  tutions that do not pay New York state taxes

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 10 of the  general  municipal  law  is  amended  by
adding a new subdivision 5 to read as follows:
  5.  NO  LOCAL GOVERNMENT SHALL DEPOSIT ANY PUBLIC FUNDS IN A FINANCIAL
INSTITUTION THAT IS NOT SUBJECT TO THE TAX IMPOSED PURSUANT  TO  ARTICLE
THIRTY-TWO OF THE TAX LAW.
  S 2. This act shall take effect April 1, 2011.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD04205-03-1

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